Do you have to have perfect credit? Or can anyone purchase a home?
A decade ago, you needed very good credit to apply for a home. And then you needed a substantial down payment just to afford one. Then as the market got better and better, lenders started easing up on the requirements needed to buy a home and more and more people were becoming
What are Lender's looking for?
Typically lenders look at your debt to income ratio and determine about 28% of your income can go toward a mortgage. But more and more mortgage brokers were finding creative ways around lenders and letting home buyers buy a home with up to 50% of
This led to the crux we are in now. Where so many people bought homes they really couldn't afford and now are foreclosing on them when the mortgage rates jump and subprime mortgages are due. This means people that once had a $1000 a month mortgage all of a sudden now have a $2000 a month mortgage payment.
Knowing the facts about the system can really help put you in a better position to buy Kirkland real estate and being educated
Typically right now,
If you have decent credit, have kept up on your payments of credit cards, rent, mortgage, whatever, then you probably have a good shot at obtaining a mortgage. Give us a call today to find out more about buying Kirkland real estate.